FXStreet reports that FX Strategists at UOB Group note that a sustainable move above 0.7010 remains out of favour in NZD/USD for the time being.

24-hour view: “Yesterday,... NZD traded sideways between 0.6942 and 0.6977 before settling on a soft note at 0.6948. Momentum indicators are turning neutral and NZD is likely to trade sideways for today, expected to be within a 0.6920/0.6965 range.”

Next 1-3 weeks: “On Wednesday (25 Aug, spot at 0.6985), we indicated that there is room for the rapid advance in NZD to extend but a sustained rise above 0.7010 appears unlikely for now. NZD snapped its winning streak yesterday (26 Aug) as it closed lower by -0.37% (0.6948). We continue to hold the same view for now but a break of 0.6900 (no change in ‘strong support’ level) would indicate that NZD is not ready to move above 0.7010 just yet.”